Unit 503, Taraf 1 Residence: what it sold for and what it is worth now

Unit 503 at Taraf 1 Residence is a 1 bed of 1,025 sq ft. It last sold for AED 824,662 on 18 Sep 2023. At AED 803 per sq ft, from 6 sales of units ending 03 (same position in the tower), it is worth about AED 823,000 today.

Value todayAED 823,000AED 786,000 to AED 824,000
Last saleAED 824,66218 Sep 2023 · Resale
Change since last sale-0.2%Building trend alone: AED 824,461
Rent (median asking, 1 bed)AED 65,000Gross yield 7.9%
Bedrooms1 bed
Size1,025 sq ft
Floor5 (from the unit number)
Position in the towerStack 03: units ending 03 share the same layout and view
BuildingTaraf 1 Residence by Taraf, handed over 2019
Registered sales of this unit1

Every registered sale of unit 503

DatePriceSizeAED/sq ftType
18 Sep 2023AED 824,6621,025 sq ft805Resale

Units ending 03 (same position, other floors)

UnitDatePriceSizeAED/sq ftType
40318 Sep 2023AED 823,1311,025 sq ft803Resale
30314 Sep 2023AED 822,0701,025 sq ft802Resale
10314 Sep 2023AED 902,8381,196 sq ft755Resale
00314 Sep 2023AED 1,363,9871,826 sq ft747Resale
20314 Sep 2023AED 824,7001,025 sq ft805Resale

Latest 1 bed sales in Taraf 1 Residence

UnitDatePriceSizeAED/sq ftType
0017 Nov 2024AED 817,0641,041 sq ft785Resale
50819 Sep 2023AED 515,166558 sq ft923Resale
50719 Sep 2023AED 515,846559 sq ft923Resale
41518 Sep 2023AED 735,783888 sq ft829Resale
50918 Sep 2023AED 515,549559 sq ft922Resale
40918 Sep 2023AED 677,909825 sq ft822Resale
50618 Sep 2023AED 515,350559 sq ft922Resale
50118 Sep 2023AED 729,838869 sq ft840Resale

How we worked out the value

We took the 6 resale sales of units ending 03 in the last 24 months, worked out the price per sq ft of each, and used the middle value (AED 803). We multiplied it by the size of this unit (1,025 sq ft). The range uses the middle half of those sales (AED 767 to AED 804 per sq ft). As a check, the last sale moved by the building's own price change since then gives AED 824,461. Floor, view, condition and upgrades can move the price either way. Sales data to 7 Nov 2024, from the Dubai Land Department register.

Questions

What is unit 503 at Taraf 1 Residence worth?

About AED 823,000 (range AED 786,000 to AED 824,000), based on AED 803 per sq ft from registered sales up to 7 Nov 2024.

When did unit 503 last sell?

18 Sep 2023, for AED 824,662 (resale). It has 1 registered sale.

What rent can unit 503 make?

A 1 bed in Taraf 1 Residence rents for about AED 65,000 a year (median asking rent). That is a gross yield of 7.9% on the estimate.

Sales alert for Taraf 1 ResidenceAll sales in Taraf 1 Residence

Unit 502 · Unit 504